State-owned fuel retailers experienced significant profit surge in Q1 FY26, with a combined net profit of Rs 16,184 crore, driven by robust petrol and diesel marketing margins. BPCL led with a net profit of Rs 6,124 crore and a GRM of $4.88 per barrel. These gains offset inventory losses and unresolved LPG subsidy burdens. State-owned…
Talks between India and China on reviving traditional border trade have yielded progress, with Beijing agreeing in principle to reopen the Shipki-La pass in Himachal Pradesh’s Kinnaur district, the state government said on Sunday.The trade route, once an offshoot of the ancient Silk Route, had been suspended in 2020 following the Covid-19 outbreak.According to the…
The combined market valuation of eight of the top-10 most valued firms climbed Rs 1,72,148.89 crore last week, tracking a bullish undertone in domestic equities, with Reliance Industries emerging as the biggest gainer.The BSE benchmark had advanced 709.19 points, or 0.87 per cent, during the week, PTI reported.From the top-10 pack, Reliance Industries, Tata Consultancy…
Elon Musk’s Starlink receives unified license in India NEW DELHI: The security conditions, he explained, bar Starlink from copying or decrypting Indian user data abroad and prevent the mirroring of Indian user traffic on any system outside the country.“The security conditions, inter-alia, include the establishment of earth station gateway(s) in India for providing satellite-based communication…
Uber CEO Dara Khosrowshahi NEW DELHI: Uber CEO Dara Khosrowshahi has identified Rapido as the company’s biggest challenger in India, saying the bike-taxi and ride-hailing startup has now overtaken Ola as Uber’s main competition in the market. Speaking on Zerodha cofounder Nikhil Kamath’s podcast People by WTF, he remarked in a teaser clip, “Ola used…
Royal Mail post office (AP) European postal services are suspending shipments to the United States after Washington announced the end of the long-standing “de minimis” tariff exemption, sparking confusion over new customs rules and duties.The de minimis exemption, which currently allows packages worth less than $800 to enter the US duty-free, will expire Friday. According…
Sebi representative image NEW DELHI: Markets regulator Sebi has proposed raising the minimum order size for block deals on stock exchanges to Rs 25 crore from Rs 10 crore. A block deal is a single large share transaction executed between a buyer and a seller during a 15-minute window offered twice a day. The existing…
NEW DELHI: India’s foreign exchange reserves rose by $1.48 billion to $ 695.10 billion in the week ended August 15, driven primarily by gains in foreign currency assets (FCA), according to the Reserve Bank of India’s (RBI) latest ‘Weekly Statistical Supplement.’Foreign currency assets, the largest component of India’s forex reserves, increased by $1.92 billion to…
Japan’s Sumitomo Mitsui Banking Corporation (SMBC) has received the Reserve Bank of India’s (RBI) approval to acquire up to 24.99% stake in Yes Bank, the private sector lender announced on Saturday.The development comes after Yes Bank’s May 9 disclosure about SMBC’s plan to purchase a 20% holding in the bank through a secondary stake buy,…
India’s leather industry, a vital labour-intensive sector with exports worth $4.1 billion, has been hit hard by US President Donald Trump’s decision to impose a 25% tariff on imports from India. The move, coupled with an additional 25% tariff on Russian oil purchases from 27 August 2025, is expected to deepen the crisis exporters are…
